Ahead of the Global Investors Summit (GIS) 2023 to be held in Lucknow from February 10 to 12, the Uttar Pradesh government held a roadshow and Business-to-Government (B2G) meetings in Ahmedabad on Friday in which 22 memorandums of understanding (MoUs) worth ₹38,000 crore were signed.
The B2G meetings and road shows in Ahmedabad were led by Cabinet minister AK Sharma who was accompanied by his Cabinet colleague Jitin Prasad, minister of state Jayendra Pratap Singh Rathore and advisors to chief minister Avanish Awasthi, GN Singh and other senior officials of the UP government.
Torrent Pharma, a well-known pharmaceutical business headquartered in Ahmedabad, signed an MoU for ₹25,000 crore. Amul India signed an MoU of ₹900 crore to set up a new milk plant in Baghpat district of Uttar Pradesh. Nine MoUs were of ₹1,000 crore or more.
“These investors will finalise their investment by participating in the UP Global Investors Summit-23 to be held in the capital Lucknow in February,” said a Gujarat government media release.
Torrent group is already working in the electricity and gas sector in 16 districts of UP and now wants to invest in the pharma sectors, the release said.
Jinal Mehta, managing director, Torrent Group said,“ The work done by CM Yogi Adiyanath led government in the last five and a half years to make UP crime free, create solid infrastructure, expressway, airport and road connectivity is commendable. As a result, we want to invest more in the state.”
Dr. Viranchi Shah, national president of the Indian Drug Manufacturers Association, said that the way the Uttar Pradesh government is promoting innovative ideas, it has encouraged them to invest in the state. “Impressed by the government’s start-up policy and ease of starting business, we are keen to set up our unit in UP. The investors are really pleased with the facilities and reliefs that the government has chosen to offer,” he said.
Rajiv Gandhi, founder, CEO, and MD of Hester Biosciences Limited lauded Uttar Pradesh for its infrastructure, sizable market, and easy manpower availability. His company manufactures animal vaccines on a large scale in Gujarat. Looking at the industrial policy of the Yogi government in Uttar Pradesh, the company plans to set up a plant for animal health products, natural products, and formulations, according to the media release.